Sound Mind Correlations

SMIFX Fund  USD 9.93  0.07  0.71%   
The current 90-days correlation between Sound Mind Investing and Smi Servative Allocation is 0.91 (i.e., Almost no diversification). The correlation of Sound Mind is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Sound Mind Correlation With Market

Very poor diversification

The correlation between Sound Mind Investing and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sound Mind Investing and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sound Mind Investing. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Sound Mutual Fund

  0.94SMILX Smi Servative AllocationPairCorr
  0.83SMIDX Smi Dynamic AllocationPairCorr
  0.9CGRGX American Funds GrowthPairCorr
  0.9FPGGX American Funds GrowthPairCorr
  0.9FGPGX American Funds GrowthPairCorr
  0.89MUTHX Franklin Mutual SharesPairCorr
  0.89TESRX Franklin Mutual SharesPairCorr
  0.89FMSHX Franklin Mutual SharesPairCorr
  0.9GWPCX American Funds GrowthPairCorr
  0.9GWPFX American Funds GrowthPairCorr
  0.9GWPAX American Funds GrowthPairCorr
  0.9CGQGX American Funds GrowthPairCorr
  0.73MGGYX Mirova Global GreenPairCorr
  0.78HLDIX Hartford EmergingPairCorr
  0.77HLDRX Hartford EmergingPairCorr
  0.77HLDAX Hartford EmergingPairCorr
  0.78HLDCX Hartford EmergingPairCorr
  0.78HLDTX Hartford EmergingPairCorr
  0.83MYSIX Victory TrivalentPairCorr
  0.94PRJIX T Rowe PricePairCorr
  0.8RGCYX Global OpportunisticPairCorr
  0.92CHW Calamos Global DynamicPairCorr
  0.85APDIX Artisan InternationalPairCorr
  0.86FPBFX Fidelity Pacific BasinPairCorr
  0.83VGSNX Vanguard Reit IndexPairCorr
  0.86PGDRX Diversified Real AssetPairCorr
  0.76PRFSX T Rowe PricePairCorr
  0.9TRRFX T Rowe PricePairCorr
  0.92QNTIX Quantex Fund InstituPairCorr
  0.84EMXIX Ashmore Emerging MarketsPairCorr
  0.83FYTKX Fidelity Freedom IncomePairCorr
  0.91RYTAX Technology Fund ClassPairCorr
  0.79PBCAX Prudential CaliforniaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Sound Mutual Fund performing well and Sound Mind Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Sound Mind's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SMILX  0.39  0.08  0.00  0.31  0.04 
 0.97 
 2.66 
SMIDX  0.31  0.10 (0.03) 0.68  0.00 
 0.79 
 2.00 
SMIFX  0.56  0.02 (0.02) 0.16  0.53 
 1.80 
 4.29 
LINPX  0.51  0.18  0.14  0.98  0.00 
 1.14 
 2.81 
APHKX  0.43  0.07 (0.02) 0.31  0.33 
 1.01 
 2.93 
SSCDX  0.75  0.12  0.11  0.25  0.67 
 2.24 
 5.93 
FHKAX  0.74  0.24  0.19  0.58  0.49 
 2.32 
 5.23 
HAGIX  0.84  0.18  0.17  0.31  0.69 
 2.49 
 5.96 
CEYIX  0.64  0.01 (0.01) 0.15  0.67 
 1.43 
 4.66 
VPMCX  0.77  0.13  0.13  0.28  0.70 
 2.23 
 5.47